Surplus in External Trade – Exports and Imports Down

In March 2023, the volume of Hungarian exports grew by 10% and that of imports by 1,6% compared to the same period of the previous year, the Central Statistical Office (KSH) has reported.

The surplus of the external trade in goods was EUR 886 million, the balance improved by EUR 1.7 billion year-on-year. Compared to February, the seasonally and working-day adjusted volume of export decreased by 1.0%, that of import lessened by 2.8%.

In March 2023:

The value of exports amounted to EUR 14.2 billion (HUF 5,453 billion), that of imports to EUR 13.3 billion (HUF 5,106 billion).

In March 2023 compared to a year earlier:

The value of exports increased by 17%, that of imports grew by 3.1% in EUR terms.

According to calendar-adjusted data, the volume of exports grew by 10%, that of imports increased by 1.9%.

The balance of the external trade in goods improved by EUR 1.7 billion. (The balance is EUR 13 million lower than the one published in the first estimate.)

The HUF price level of the external trade in goods rose by 8.6% in exports and by 3.2% in imports compared to the same month of the previous year. The terms of trade improved by 5.2%. The HUF exchange rate weakened by 2.1% against the EUR and deteriorated by 5.2% against the US dollar.